In the traditional Keynesian model, an increase in government spending leads to all of the following EXCEPT
A. higher real GDP.
B. an increase in consumption.
C. an increase in aggregate demand.
D. an increase in the price level.
Answer: D
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The process of specialization and exchange allows a producer to become
a. proficient in one or a few areas of production. b. proficient in all areas of production. c. self-sufficient. d. independent.
In many rural areas, electric generation and distribution utilities were initially set up as cooperatives in which the electricity customers were member-owners. Like most cooperatives, the objective of these firms was to:
A) maximize profits for the member-owners. B) maximize total revenue that could be redistributed to the member-owners. C) operate at zero profit in order to provide low electricity prices for the member-owners. D) minimize the costs of production.
An increase in the price of a good would?
What will be an ideal response?
Which of the following statements about the United States is (are) correct?
i. The labor force is larger than the number of employed people. ii. The labor force is larger than the number of unemployed people. iii. The number of unemployed people is larger than the number of employed people. A) ii only B) iii only C) ii and iii D) i and ii E) i, ii, and iii